October 26, 2017 / 9:59 AM / a year ago

Bahrain central bank says banks need breathing space over global regulations

RIYADH, Oct 26 (Reuters) - Bahrain’s central bank governor said on Thursday that stricter international bank rules, known as Basel III, had gone too far and banks had been burdened with too much regulation.

“We have to be careful about how far we go from now onwards, not watering down what we have done but at least we have to give the banking system breathing space so they absorb what we have done, test these new regulations and see what is the impact on economic growth,” Bahrain central bank governor Rasheed Mohammed al-Maraj said at an investment conference in the Saudi capital.

Reporting by Andrew Torchia; Editing by Edmund Blair

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